article thumbnail

Small Business Tax Deductions Checklist: All You Need to Know About Tax Deductions

Snyder

However, even these expenses can be claimed as tax deductions. As a result, the net price of your bookkeeper or attorney will be much lower. Professional service fees Any legal, accounting and bookkeeping services fees that are needed for your business are also deductible. Besides, business owners can deduct their payroll tax.

Tax 98
article thumbnail

From Filing to Deductions: Understanding Tax for Web Design Companies

Steve Feinberg

Failure to comply with tax regulations can result in a government audit of your finances by the Internal Revenue System. This can lead to monetary penalties as the government attempts to recoup lost revenue and punish improper bookkeeping or business practices.

Tax 52